I hope splitting it in two will mean that it'll be following as much of the book as it can, unlike they did with LotR. But if it means they'll just be throwing in some crazy Lucas-style **** that makes no sense at all, I must say I'll be passing.

That is, if it gets finished at any point or end up like Halo, which was also produced by the almighty Mr. Jackson

"Our posturings, our imagined self-importance,
the delusion that we have some privileged position in the universe,
are challenged by this point of pale light.
Our planet is a lonely speck in the great enveloping cosmic dark.
In our obscurity – in all this vastness – there is no hint that help will come from elsewhere to save us from ourselves."
- Carl Sagan

The first would deal with the 80-year old novel. The second, imagined entirely by Jackson and Walsh, would link the conclusion of The Hobbit to the start of the first Lord of the Rings book, The Fellowship of the Ring.